The reason the lending market collapsed was due to the slim chance of loans being repaid.If the FTBs are capable of repaying their loans and they make the mistake of piling into property too soon, there is no problem.If on the other hand, the real problem facing the UK is a dramatic rise in unemployment, then enabling FTBs to make such a mistake just worsens the economic consequences.

I chose not to buy back into the market a few years ago. At the time anything I'd be happy to live in was way beyond my means. I've just bought a detached 3 bed at 35% below what it was sold for in 2005. I was classed as an FTB by all and sundry.

Was it me that skewed the figures for FTBs even though, IMO, I wasn't one?

first time buyers are going to regret buying now as the falls we have left will wipe many of their deposits out..don't jump in too soon..i lost my house in the 80s and it hurt but will never buy in a market again until i know we are over the worst and we are no where near that yet...good luck all

No where near the bottom yet.Any upward blip will be short lived but may give Brown some support because people are daft, greedy morons and any price increases will make them feel wealthy again.When prices go back to 3 times earnings from the 5.5 times we have now, then I may decide to jump back in...that's a 45% drop from where we are now.It may take another 2 years to hit the bottom... by then unemployment will be way over 3 million (plus the 2.7 million conveniently branded under the "incapacity" heading... another New Labour manipulation of the truth !!!) and taxes as well as interest rates will have to rise... a perfect cocktail eh... massive, unemployment, high inflation, high interest rates, higher taxes... so where will the money come from to buy property at any price I wonder ?